Build-A-Bear is bullish on its e-commerce prospects
Build-A-Bear Workshop Inc. grew web sales 8.2% in the second quarter.
For Q2, Build-A-Bear, No. 411 in the Internet Retailer Top 500 Guide., posted web sales of $1.84 million vs. e-commerce revenue of $1.7 million in 2006. For the first six months of the year, web sales rose by 13.2% to $4.72 million from $4.17 million in the prior year.
For the quarter Build-A-Bear reported net income of $1.59 million on sales of $100.3 million, compared with net income of $2.99 million on sales of $93.65 million in Q2 2006. Overall the web accounted for 2% of total revenue in the second quarter.
In June Build-A-Bear retained investment banking firm Lehman Brothers Inc. to assist with an analysis of a broad range of potential strategic alternatives, but has yet to provide details on its specific intentions and future direction.
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